Cheap Car Insurance in Albuquerque (2022)

State Farm offers the cheapest car insurance in Albuquerque at $48 a month for minimum coverage.

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The cheapest car insurance in Albuquerque for most drivers comes from State Farm. According to our survey of providers, the company’s average minimum-coverage policy costs $48 a month. For full coverage, the provider’s monthly average is $94.

USAA offers a more competitive minimum-coverage rate, but only for those who qualify. The group sells insurance exclusively to former and active military members and their families. USAA’s average minimum-coverage plan costs $46 per month.

When it comes to full coverage, USAA also has affordable rates. Those who qualify will enjoy an average rate of $97 per month, the city’s second-best offer.

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Cheapest car insurance in Albuquerque

The majority of Albuquerque drivers will find the cheapest car insurance at State Farm, which charges $48 per month for minimum coverage, on average. This is well below the city average of $76.

USAA, however, offers a stronger choice for military members and their families. The provider charges $46 per month for minimum coverage.

Allstate and GEICO offer the next-best options, charging $67 and $82, respectively.

CHEAPEST MINIMUM-COVERAGE CAR INSURANCE IN ALBUQUERQUE
Company Monthly rate
USAA $46
State Farm $48
Allstate $67
City average $76
GEICO $82
Farmers $102
Progressive $109
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

New Mexico law requires drivers to carry minimum liability insurance. Policies must include at least:

  • $25,000 for the bodily injury or death of one person
  • $50,000 for the bodily injury or death of multiple people
  • $10,000 for property damage

Cheapest full-coverage car insurance in Albuquerque

State Farm offers the best full-coverage car insurance rates in Albuquerque. There, drivers enjoy a mean rate of $94 a month, a decrease of 34% from the citywide average.

USAA’s rate of $97 comes in second, for those who qualify. Meanwhile, GEICO and Allstate are other affordable options for auto insurance in Albuquerque, offering policies for $148 and $152, respectively.

CHEAPEST FULL-COVERAGE CAR INSURANCE IN ALBUQUERQUE
Company Monthly rate
State Farm $94
USAA $97
City average $143
GEICO $148
Allstate $152
Farmers $171
Progressive $197
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

A full-coverage car insurance policy typically includes liability, collision, and comprehensive coverages, as well as other possible coverages for medical payments or uninsured drivers.

No state requires full-coverage car insurance, although many lenders and lessors do. It’s also recommended for drivers with new or expensive vehicles.

Get cheap car insurance in Albuquerque, New Mexico

Cheapest car insurance in Albuquerque for drivers with a DUI

State Farm also has the most affordable car insurance rates for Albuquerque drivers with a DUI. To provide full coverage to drivers with a DUI on their record, the company charges an average of $102 per month.

Other providers fall far behind. USAA has the second-lowest rates in the city, offering $194 per month, while non-military members will find their next-best option at Allstate, which charges $207.

In Albuquerque, a DUI increases a driver’s full-coverage insurance by an average of 50%, from $143 per month to $215 per month.

CHEAPEST CAR INSURANCE FOR DRIVERS WITH A DUI
Company Monthly rate
State Farm $102
USAA $194
Allstate $207
Farmers $231
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Cheapest car insurance in Albuquerque for drivers with accidents or tickets

The cheapest car insurance in Albuquerque for drivers with an accident comes from State Farm at an average of $102 per month. That’s less than half the citywide average of $212.

USAA’s rate of $146 comes in second, for those who qualify.

CHEAPEST CAR INSURANCE FOR DRIVERS WITH AN ACCIDENT
Company Monthly rate
State Farm $102
USAA $146
Allstate $211
Farmers $241
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

State Farm leads the way, too, for drivers with a speeding ticket, charging an average of $102 per month. That’s the full-coverage rate for a driver with one ticket on their record.

Again, State Farm is significantly lower than the citywide mean. In Albuquerque, the average driver with a speeding ticket pays $179 for full coverage.

CHEAPEST CAR INSURANCE FOR DRIVERS WITH A SPEEDING TICKET
Company Monthly rate
State Farm $102
USAA $122
Allstate $169
GEICO $183
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Cheap car insurance in Albuquerque for teen drivers

Most teen drivers in Albuquerque will get the cheapest minimum-coverage car insurance from State Farm, where the average monthly rate is $146. In our survey, a “teen driver” is defined as an 18-year-old with a clean driving record.

However, USAA offers a better option for military members and their families. The group’s average policy costs $106 per month.

CHEAPEST MINIMUM-COVERAGE CAR INSURANCE FOR TEENS
Company Monthly rate
USAA $106
State Farm $146
Allstate $182
GEICO $211
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

State Farm typically has the cheapest full-coverage auto insurance for teens as well. The company’s average cost to insure an 18-year-old with a clean record is $285 per month.

Beyond State Farm and USAA — which has the best rates for those who qualify — there’s a major jump in price before GEICO, the next-cheapest option.

CHEAPEST FULL-COVERAGE CAR INSURANCE FOR TEENS
Company Monthly rate
USAA $228
State Farm $285
GEICO $407
Allstate $469
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Cheap car insurance in Albuquerque for senior drivers

When it comes to cheap car insurance for seniors, State Farm leads the way in Albuquerque. For minimum coverage, the company charges seniors just $46 per month. That’s for a 60-year-old with a clean driving record.

In Albuquerque, the average senior pays $76 per month for minimum-coverage insurance. That’s the exact same cost as the overall average citywide.

CHEAPEST MINIMUM-COVERAGE CAR INSURANCE FOR SENIORS
Company Monthly rate
State Farm $46
USAA $50
Allstate $71
GEICO $87
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

State Farm also offers the most affordable full-coverage policies. On average, a 60-year-old with a clean record will pay $88 a month.

CHEAPEST FULL-COVERAGE CAR INSURANCE FOR SENIORS
Company Monthly rate
State Farm $88
USAA $99
GEICO $148
Allstate $150
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Albuquerque car insurance requirements

In New Mexico, drivers must carry minimum liability insurance. Those minimum-coverage policies must include:

  • At least $25,000 for the bodily injury or death of one person
  • At least $50,000 for the bodily injury or death of multiple people
  • At least $10,000 for property damage

For full coverage, drivers typically add comprehensive and collision coverages, plus optional coverage for medical expenses, uninsured motorists and more.

No state requires full-coverage insurance, but it could be a good idea for those with new or expensive vehicles. Additionally, it’s worth noting that some lenders and lessors require it.

Methodology

We obtained non-binding quotes from Quadrant Information Services for a typical driver in every Albuquerque ZIP code to find the cheapest car insurance companies and rates. Unless otherwise noted, the driver is a 35-year-old male with a clean driving record. He owns a 2012 Honda Accord LX and drives an average 13,500 miles a year.

The teen driver in this article is 18 years old but otherwise fits the same profile as the 35-year-old driver above. The same is true of our senior driver, who is 60.

Minimum-coverage car insurance rates highlighted on this page are based on a policy that meets New Mexico’s minimum liability requirements. Full-coverage rates are based on a policy with the following limits and deductibles:

  • $100,000 bodily injury liability coverage per person
  • $300,000 bodily injury liability coverage per accident
  • $100,000 property damage liability coverage
  • $500 deductibles for both collision and comprehensive coverage

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